Oil and Oil stocks

Well done, we are struggling with 107 today, took a couple of samll moves then left it, very low volume. Dow Futures broke out well from the open so surprised oil didn't follow through so far, let's see how the pit close trades.

Mike

Done for today as well. Yesterday was the lowest volume for this year. Everyonne is waiting for any decent news to show the direction.
expecting a spike to around 107.80 before and after the release of the news on increased inventories go down to 106.something.

Lets see how good i am at predicting. So i will put a sell around 107.50 with take profit at 106.80.

Ay carrumba!

They havent drove the price up to the levels I expected. So I missed the move down.
Instead I think it is oversold now so I bought some at 105.25 expecting it to go up.

We saw oil move into teh daily 8 ema today and hold, volume still not great these days. I find the 5 minute charts are better than tick charts at the moment.

If the Dow holds up then I think we can move back to 105. Oil stocks are weak so I'm flat on oil stocks but will look for signs of life at the lows.

Mike

Impressive recovery, but will it continue or go back to below 80???

Looking for a pull back to 90 but would love to buy 8950 is we see it.

Not much data on Monday except Benancke is speaking at the pit open time.

I've been watching LON:XEL - still not doing yet but Arg: Argos moved well on Friday.

I think oil is vulnerable up here, volumes are low. We have US jobs on Friday so we may hover until we get to that. I'm not trading it here unless the dow looks like it can break up.

Mike